Isn't it written somewhere in capitalism that if a business fails, it gets what it deserves? If all these brokers and bankers have been doing this much bad business, maybe a few swings of the wrecking ball will do us all some good. We don't need any schizophrenic bomb throwers; just stand back, let 'em fall on their own.
Monday, September 15, 2008
Lehman Brothers, Merrill Lynch: Let 'Em Fall
Lehman Brothers collapses, Bank of America buys floundering Merrill Lynch, AIG (world's largest insurance company) restructures, banks and governments panic... I can't help feeling a little like Edward Norton standing at the high-rise window at the end of Fight Club.
Isn't it written somewhere in capitalism that if a business fails, it gets what it deserves? If all these brokers and bankers have been doing this much bad business, maybe a few swings of the wrecking ball will do us all some good. We don't need any schizophrenic bomb throwers; just stand back, let 'em fall on their own.
Isn't it written somewhere in capitalism that if a business fails, it gets what it deserves? If all these brokers and bankers have been doing this much bad business, maybe a few swings of the wrecking ball will do us all some good. We don't need any schizophrenic bomb throwers; just stand back, let 'em fall on their own.
That's a beautiful theory, Cory, but would you feel the same way if, tomorrow morning, you went to your bank to get some cash and were told that, from that day forward, they could only give you five cents on the dollar?
ReplyDeleteI agree that some of these outfits should be out of business because they've blown it. That's the free market system that my fellow Republicans have always espoused! But it's not necessarily that simple, is it? If the situation continues on its present track, some FDIC bailouts are almost certain to be necessary. Ultimately, that will have to come from the taxpayer, no?
The people who should really go down in this mess are the CEOs and their cronies who will walk away from it with a bundle. I wish the cops would go after them, bind them up, and haul them off to iron cages the way they do when a poor man gets caught stealing a loaf of bread to feed his family.
...and that's (Erin?)Helena Bonham Carter standing next to (you?) him. Sweet!
ReplyDelete;-)